American digital asset management fund Grayscale has continued to grow, with its total assets under management hitting $3.8 billion.

Grayscale, a major digital asset management fund, has continued to grow this year, with its total assets under management, or AUM, hitting new highs.

According to a May 19 tweet, Grayscale’s total AUM hit $3.8 billion, surging over 80% from $2.1 billion in May 2019.

Bitcoin trust continues to gain momentum

Grayscale’s Bitcoin (BTC) trust has continued to lead other cryptocurrencies in the fund, accounting for $3.36 billion, or 89% of the firm’s total AUM. The value of Grayscale’s Bitcoin investment trust surged 76% from last year’s $1.9 billion. At the same time, Grayscale’s Bitcoin trust’s share saw a small drop, slipping from 94% in May 2019.

According to the data, Grayscale Ethereum (ETH) Trust is now the second-largest trust among the total 10 trusts in the fund. Grayscale ETH trust accounts for $289 million and is followed by Grayscale Ethereum Classic (ETC) Trust, which holds $73 million.

Created by Digital Currency Group in 2013, Grayscale is a major global crypto investment fund. The fund is regulated by global authorities like the United States Financial Industry Regulatory Authority and Securities Exchange Commission. Grayscale reportedly became the first digital asset trust that started reporting to the SEC in January 2020.

In April 2020, Grayscale reported that the firm was holding about 1.7% of all of Bitcoin’s supply in its Grayscale Bitcoin Trust. At the time, the firm also said that it saw its biggest quarter ever despite the economic crisis fueled by the COVID-19 pandemic.

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